Dairy Products & Eggs - Latvia | Statista Market Forecast

Revenue in the Dairy Products & Eggs market amounts to US$718.30m in 2024. The market is expected to grow annually by 6.76% (CAGR 2024-2029).
In global comparison, most revenue is generated India (US$173bn in 2024).
In relation to total population figures, per person revenues of US$396.80 are generated in 2024.
In the Dairy Products & Eggs market, volume is expected to amount to 263.20m kg by 2029. The Dairy Products & Eggs market is expected to show a volume growth of 2.7% in 2025.0.
The average volume per person in the Dairy Products & Eggs market is expected to amount to 128.4kg in 2024.

Definition:

The Dairy Products and Eggs market covers eggs and dairy products which play a major role in the daily diet of many consumers. The market includes milk substitutes, milk, products made from mammal’s milk or milk components, and eggs that are harvested from domesticated animals for human consumption, such as chickens, ducks, or quails.

Structure:

The market consists of 8 different submarkets:

The Milk market covers fresh milk that is defined as an animal product containing proteins, lactose, fats, and water.
The Milk substitutes market covers all types of plant-based milk, such as soya, almond, oat, rice, coconut, spelt, and other. “Other” includes hazelnut, soya/rice blend, buckwheat, cashew, pea, millet, lupine, hemp, quinoa, flax seed, grain, etc.
The Yogurt market covers products that are made when milk is fermented by bacteria.
The Cheese market covers solid products obtained by coagulating milk.
Yogurt substitutes cover non-dairy alternatives to traditional yogurt
Cheese substitutes cover non-dairy alternatives to traditional cheese
The Eggs market covers chicken eggs.
The Other Dairy Products & Eggs market covers other products made from milk or milk components and other types of edible eggs.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Fresh milk
Yogurt
Cheese
Eggs
preserved and powdered milk, cream, curd, yogurt drinks
Milk substitutes

Baby Food
Out-of-home consumption

The Dairy Products & Eggs market in Latvia is experiencing minimal growth, influenced by factors such as changing consumer preferences, increasing health consciousness, and the availability of substitutes. The sub-markets of Milk, Yogurt, Cheese, Eggs, and other dairy products are affected by these trends, with a slow growth rate observed in the milk and yogurt substitutes category. The market is expected to continue growing at a steady pace in the coming years, driven by the demand for healthier and more convenient options.

Customer preferences: Consumers in Latvia are increasingly showing a preference for locally sourced and organic dairy products and eggs, driven by their growing awareness of the health and environmental benefits of such products. This trend is further fueled by the country's strong agricultural traditions and its emphasis on sustainable farming practices. Additionally, with the rising number of health-conscious individuals, there is a growing demand for dairy alternatives such as plant-based milk and vegan eggs, reflecting a shift towards more plant-based diets in the country.

Trends in the market: In Latvia, the Dairy Products & Eggs Market within The Food market is experiencing a shift towards more sustainable and organic products. Consumers are increasingly concerned about the environmental impact of their food choices and are seeking out locally sourced, eco-friendly dairy and egg options. This trend is expected to continue as consumers become more environmentally conscious and demand transparency in the production process. Industry stakeholders will need to adapt to these changing consumer preferences in order to remain competitive and meet growing demand for sustainable dairy and egg products.

Local special circumstances: In Latvia, the Dairy Products & Eggs Market is heavily influenced by the country's climate and agricultural traditions. Due to its cold and temperate climate, the production of dairy products and eggs is a significant part of the country's agriculture. Additionally, traditional dairy products such as kefir and curd are deeply ingrained in Latvian cuisine and culture. Furthermore, the country's strict regulations on food production and labeling ensure high quality and safety standards for dairy and egg products, making them a trusted choice for consumers. These factors contribute to the unique dynamics of the Dairy Products & Eggs Market in Latvia, setting it apart from other markets.

Underlying macroeconomic factors: The Dairy Products & Eggs Market in Latvia is heavily influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other relevant financial indicators. As a small, open economy heavily reliant on exports, Latvia's dairy market is vulnerable to changes in global demand and trade policies. Additionally, domestic factors such as consumer spending power and government support for the agricultural sector can impact market performance. The growing health and wellness trend, along with the increasing demand for high-quality dairy products, is also driving market growth in Latvia. However, challenges such as rising production costs and competition from imports could hinder market growth in the country.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.

This report presents a comprehensive analysis and additional information on the Consumer market, in a PDF format.

The first evidence of dairy consumption dates back over six thousand years, and today dairy products are enjoyed all over the world. Over the past couple millennia there has been an incredible amount of creativity and innovation when it comes to processing, fermenting, and consuming dairy products. In 2022, the value of the dairy market worldwide was estimated to be about 893 billion U.S. dollars, which is projected to grow to 1,243 billion dollars by 2028.